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Press TV

Iran’s rial falls on inflation expectations

The Iranian rial has fallen slightly against international currencies amid expectations that a new government plan to overhaul the country’s subsidy system could cause massive price hikes while speculators bet that exchange prices will rise if international talks to revive Iran’s nuclear deal fail to reach a conclusion.

Financial Markets

Iran grants $1.5 billion to 23.6 million households as new subsidy scheme

The Iranian government has granted around $1.5 billion worth of cash subsidies to more than 23.6 million households in the country as part of efforts to cushion shocks that could be caused by price hikes in consumer goods.

Macro Economy

Iran to increase supply of gas to Iraq

Iraq has reached new agreements with Iran on the supply of natural gas from the country, according to the spokesman of the country’s Ministry of Electricity.

Energy

Iran ready to supply Europe with part of energy needs

An Iranian deputy president says the country will be ready to supply part of Europe’s energy needs if governments in the region commit to long-term contracts and avoid seeking third party intervention.

Energy

Iran to ramp up cooking oil imports to prevent domestic shortages

Iranian agriculture ministry (MAJ) plans to ramp up imports of cooking oil into the country to prevent any shortages that could be caused by the military conflict between Russia and Ukraine.

Trade

Iran offers fourth COVID shot for health workers, vulnerable groups

The Iranian health ministry has mandated the use of a fourth booster coronavirus (COVID-19) vaccine for the elderly and vulnerable groups as well as for frontline health workers.

Society Economy

"Iraq’s energy debt to Iran reduced to over $1 billion"

A senior businessman watching over trade between Iran and Iraq says Baghdad has reduced its unpaid energy bill to Tehran to just over $1 billion from more than $5 billion reported in late 2020.

Energy

Iran pistachio exports down 33% in fiscal 2021-22

Iranian customs office (IRICA) figures show pistachio exports from the country declined by nearly a third in the calendar year to March 20.

Agriculture and Environment

30% of Iran’s last year total exports sent to China

The Iranian customs office (IRICA) says China bought nearly 30% of all Iranian exports in the year to late March as the East Asian country continued to defy US pressure and deepened its trade ties with the Islamic Republic.

Trade

Iran temporarily closes main border crossing with Afghanistan

Iran has temporarily closed its main border crossing with Afghanistan over what authorities described as Afghanistan’s uncoordinated move to build a road along the frontier.

Transportation

Iran Chamber of Commerce, Industries, Mines and Agriculture

Established in 1884, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is a non-profit and non-governmental institution which aims at facilitating economic growth and development in the country. Iran Chamber tries to further coordinate the activities of the private sector. As an economic forum, representatives from both the government and the private sector attend Iran Chamber's sessions. Meanwhile the institution acts as an advisory body to the government, parliament and judiciary.

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